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Inflation 5.2%

Community Veteran
Posts: 7,910
Thanks: 591
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Registered: 02-08-2007

Inflation 5.2%

Seems inflation for September is 5.2%
Bad news for most of us but could be helpful for those on pensions. (and benefits)
9 REPLIES
Midnight_Caller
Rising Star
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Registered: 15-04-2007

Re: Inflation 5.2%

How will that help people on benefits?
Moderator
Moderator
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Registered: 06-04-2007

Re: Inflation 5.2%

Aren't benefit increases linked to inflation?

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Community Veteran
Posts: 18,544
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Registered: 12-08-2007

Re: Inflation 5.2%

Pensions will go up by 5.2% in April but I read yesterday that the government is looking at the possibility of applying a lower rate to benefits.
jmd
Grafter
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Registered: 30-07-2007

Re: Inflation 5.2%

The government use CPI for the increase in pensions and benefits.  My occupational pension also uses CPI.  But the rate of inflation could have gone up more by April!
Community Veteran
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Registered: 12-08-2007

Re: Inflation 5.2%

Inflation should actually fall.  Inflation is measured on a year-to-year basis so in January the rise in VAT will fall out of the calculation.
Community Veteran
Posts: 18,544
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Registered: 12-08-2007

Re: Inflation 5.2%

When George Osborne became chancellor he announced that pensions would increase by the greater of:
Inflation
Wages
2½%
Community Veteran
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Registered: 23-09-2010

Re: Inflation 5.2%

I really don't get some of this.
A few decades back inflation was 10% plus but as a result the interest on a relatively small amount of savings was enough to pay my monthly mortgage and my council tax. No one I knew was struggling to manage.
Now with an interest rate of virtually zero the money gained from a hell of a lot more savings isn't enough to pay the council tax.
Things seem back to front to me. I feel like I'm being conned out of my last penny by the government, screwed by the power generators, all the while the diddling banks get the free use of my savings.

Community Veteran
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Registered: 01-08-2007

Re: Inflation 5.2%

Quote from: billnotben
I feel like I'm being conned out of my last penny by the government, screwed by the power generators, all the while the diddling banks get the free use of my savings.

Thats because thats exactly what is happening.
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 3,826
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Registered: 24-09-2008

Re: Inflation 5.2%

A re-appraisal of inflation for "Benefits" is on the cards, rather than the 5.2% increase it will be linked to 12 months average (closer to 4%).
Good job the goal post are mounted on roller skates, makes them easier to move